Role Title: Head of MI, Vendor and System Oversight
Business: Global Banking and Markets
New or Existing Role-Replacement
- Our business is growing and an exciting new role has arisen for a movitated and adaptable individual to work within our senior management team as ‘Head of MI, Vendor and System Oversight.’
- Global Data Services is a shared service with the mission of providing timely, compliant and cost effective reference and market data services globally. Encompassing the provision of instrument/pricing data to the global customer base including GM, HSS, Private Bank and RBWM, as well as the management of vendor data spend. We currently operate from six global locations i.e. London, New York, Scotland, Bangalore, Colombo and Hong Kong with circa 323 staff (292 perm).
- Ensures adherence to GB&M Transformation framework this requires superior stakeholder management skills and an excellent all-round knowledge of the Global Data landscape (internal and external) to gain a deep understanding of the requirements and objectives of their respective business unit and the ability to devise and deliver projects in accordance with those objectives as part of the wider business management team
- The Vendor and System Oversight role will be responsible for managing and tracking the performance of key GDS Vendors and Systems and producing MI for inclusion in the relevant governance forums. The individual will act as an escalation point for Vendor and System operational issues and will track all remedial actions in order to ensure the actions are closed in a timely manner. The role also involves partnering with the Market Data teams on potential Vendor cost saves and engaging with this team when new vendors, price feeds, exchanges and terminals are required or can be demised. The role will support Global Service Delivery and Global Change with the roll out of new vendors and systems and vendor and system enhancements.
- GDS is currently implementing a significant change programme across its locations and products globally. There are also significant vendor requirements from the GDS client base which need to be agreed and met within the product framework. There is also significant regulatory and market change which should be understood to identify opportunities within the product and also to ensure compliance with the requirements.
Impact on Business
- Escalation point for vendor and system issues and working with the Vendor and or Market Data to resolve
- Managing the on-going performance of the vendors and systems on behalf of GDS
- Creating a consistent approach for measuring the vendor and system performance
- Ensuring the teams are operationally ready for any vendor related changes and liaise with Market Data and the Change team to ensure seamless delivery
- Managing vendor and system outages (ensuring Tech, Ops and Vendor) work together to resolve the issue
- Ensure effective communications of all vendor outages and circulate internal client comms in a timely manner
- Track and ensure closure of corrective actions resulting from Vendor and system outages or provision of incorrect data
- Ensure the Vendor BCP feeds are accurate and meet the BCP requirements
- Chair monthly GDS Service Reviews and represent GDS in partnership with Market Data at the formal quarterly service reviews with key vendors
- Represent GDS at various IT system performance updates
- Work with GDS colleagues to enhance and streamline pricing data attributes for SPS and GRDS
- Liaise with the Market Data team when there is a requirement for a new exchange or the cancellation of an exchange
- Review MI reports and actively identify assets that can be automated
- Organise quarterly Vendor training for operations
- Vendor and system oversight representative at GDS Client Governance forums
- Identify, document and agree vendor and system efficiencies that will positively impact SLA and error rate
- Obtain annual Vendor Continuous / Mandatory Change Roadmap. Incorporate within GDS Change Roadmap, feedback to vendors on any vendor led project that cannot be supported by GDS in the timeframe requested by the vendor
- Engage with the Market Data team when there is requirement for a new vendor and provide progress updates
- Engage with the IT team when there are requirements for amendments to be made to a platform
- Work with project team to onboard new vendors
- Review of manual prices with appropriate Vendors to improve coverage and drive up STP
- Weekly meetings with the Global Change Program Manager
- Support New Business vendor and system requirements
- Liaising with Global Change Delivery and SPS to ensure Vendor enhancements are incorporated
- Where required, raise defects with vendors for enhancements are required for new or existing subscribers
Tracking Saves and Cost Avoidance:
- Partner with Market Data to identify potential Vendor saves
- Manage our vendor terminals, including notifying Market Data when there is no longer a requirement for a vendor/terminal/feed/exchange
- Analysing the monthly GDS Vendor spend report. Own this report of behalf of GDS
- Act as the link between Market Data and Service Delivery on potential saves
- Update the GDS Cost Saving tracker with all validated saves
- Liaise with Business Mgmt to ensure that saves are accurately reflected in the GDS budget
- Provide input into the monthly GDS Budget meeting
- To ensure the vendor product offering meetings regulatory, compliance and audit requirements:
- Develop understanding of regulatory change and drivers and ensure that GDS has identified potential opportunities as well as responding to regulatory requirements
Management of Vendor and System Performance Delivery
- Ensure Vendors provide the monthly MI on a timely basis
- RAG rate each of the key vendors and systems on a monthly basis
- Inform the Market Data team of the RAG rating and provide rationale for the rating
- Provide the Vendor with the monthly rating
- Update and provide the vendor and system MI to the relevant governance forums
- Establish the criticality rating of each vendor to HSBC, including concentration risks
- Actively engage with other Vendors that currently do not provide MI
- Ensuring vendors and IT close corrective actions on time
- Updating Market Data and senior management when vendors miss agreed corrective actions closure dates
- GDS Oversight Manager would manage all licensing compliance issues in partnership with Market Data. The Oversight manager will ensure that we have an agreed annual review process in place with Market Data for all vendors
- The Oversight manager will review manually sourced assets to identify gaps in our vendor licensing and work with Market Data to close these gaps
- Annual verification of Vendors SSAE16 certification
- Due Diligence, GDS should support Market Data in completing an annual due diligence review. GDS would provide a 12 month view of service level received, price quality, vendor collaboration. Engaging with Market Data when comparing vendor service offerings (ie) cost / coverage
- From time to time the Oversight manager will be engaged in discussions with Procurement / Legal by Market Data
Leadership & Teamwork
- Drive a high performance culture by embodying the Group values and work united as one team to make GDS the best performing team in Global Banking and Markets
- As a member of the Global Data Services leadership team, contribute to the development of a high calibre and high performing team, ensuring excellent engagement and motivation levels across the whole function
- Lead the development of a revised offshore model, enhancing the analytical and reporting capabilities supporting the global business and developing a dedicated team of talented and engaged resources
- Partner closely with the Global Head of Business Management and other businesses, to drive consistency and common frameworks across Global MI and to ensure we have a planning and measurement system that drives meaningful business insights
- Work as one team to identify, transfer and foster sharing of best practices across regions and businesses
- Act as a confidant and advisor to the Head of Global Data Services as required reporting into the Global Head of GDS & MDS Operations.
- All staff are responsible for ensuring the effectiveness of the controls that are in place to manage the risks in the processes and activities that they undertake in their day to day role.
- Management of conduct is a critical component of all our business activities including, for example, the Group’s strategy and business models, our culture and behaviors, our interaction with customers, our financial markets operations, and our governance and oversight processes. HSBC's approach to conduct is designed to ensure we deliver fair outcomes for our customers and do not disrupt the orderly and transparent operation of financial markets.
- Focus on conduct is integral to HSBC’s values and principles, and supports the Group’s strategy for sustainable growth and streamlining of business processes and procedures.
- HSBC has defined the Global Outcomes relating to Conduct which must be delivered by Global Lines of Business, HOST and the Global Functions. The 15 Global Outcomes are located within the document in this link:
- Global Risk FIM / Regulatory Compliance / B.25 Global Conduct Policy
- Whilst all 15 Global Outcomes apply across the organization, there are more dominant or relevant Outcomes which relate to specific roles. Below is an indicative guide to show which Outcomes are more likely to apply to this job description. This should be used as a guide only and all roles within the organization should adhere to the Outcomes and the local regulatory standards and requirements relating to the markets in which they operate.
- Strategy & Business Models
- Our strategy, business models, and the decisions we make deliver fair treatment of customers and do not disrupt market integrity.
- Culture & Behaviors
- Our culture supports our people and empowers them to consistently do the right thing for our customers and markets in which we operate
- Our people are competent and committed to the fair treatment of customers and not disrupting the integrity of markets
- We are open to challenge, we acknowledge when things go wrong, we fix things and we learn from our mistakes
- We manage our products and services so that our customers’ experience is in line with the expectations we set.
- We seek to prevent and will proactively identify actions and behaviours that constitute market misconduct, and respond appropriately.
- We manage conflicts of interest and appropriately handle information to reduce the opportunity for misuse.
- Governance & Oversight
- Our governance framework provides effective oversight of how we fairly treat customers and uphold market integrity.
- Global role with 4 reporting staff based in Bangalore *2 & Hong Kong *2
- Track savings and avoidances made from effective cost management
- Follow operational guides and adhere to Vendor risk management procedures
- Deliver analysis within defined BAU and project timescales